Wednesday, August 30, 2017

WTI Closes Below $46; Eleven New Permits; Five DUCs Completed -- August 30, 2017

Super-long laterals/extended long laterals: an alert reader noted that the three CLR permits released today (see below) are super-long/extended long laterals. For newbies,
  • short laterals are generally about 5,000 feet long (9,000 vertical + 5,000 horizontal = 14,000-foot TD); generally EOG in the Parshall oil field;
  • long laterals are now the "norm" in the Bakken (9,000 vertical + 9,000 horizontal = 18,000-foot to 21,000-foot TD; almost everywhere in the Bakken, now; 1280-acre or 2-section laterals
  • super-long/extended long laterals: rare in the Bakken; 9,000 vertical + 15,000 horizontal = 24,000-foot to 27,000-foot long laterals;
See tags: SuperLongLaterals; ExtendedLongLaterals to see other examples.

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Summary: Daily Active Report

Active rigs:

$45.978/30/201708/30/201608/30/201508/30/201408/30/2013
Active Rigs543376194185

Eleven (11) new permits:
  • Operators: Crescent Point (8); CLR (3)
  • Fields: Lone Tree Lake (Williams); Elm Tree (McKenzie)
    Comments: Crescent Point has permits for an 8-well pad in NWNW 29-157-99; CLR has permits for a 3-well permit in NWNW 21-153-94
One permit renewed:
  • Cornerstone: a Melby permit renewed in Burke County
Five producing wells (DUCs) reported as completed:
  • 32172, 851, Petro-Hunt, Dolezal 146-97-31D-30-3H, Little Knife, t8/17; cum --
  • 33243, 1,090, Kraken Operating, Fairbanks 20-17 2H, Oliver, t8/17; cum --
  • 33244, 1,258, Kraken Operating, Fairbanks 20-17 3H, Oliver, t8/17; cum --
  • 33245, 1,196, Kraken Operating, Fairbanks 20-17 4H, Oliver, t8/17; cum --
  • 33246, 1,182, Kraken Operating, Fairbanks 20-17 5H, Oliver, t8/17; cum 3K in 7 days;

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